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CDARS (Certificate of Deposit Account Registry Service) Deposit Rate Report
Informa Research, Oct 2008
Everyone is talking about CDARS® (Certificate of Deposit Account Registry Service) and how to use this service to grow your institution’s deposits.
- What do you know about CDARS®? What do you need to know?
- What is CDARS® and what can it do for your institution?
- Which of your competitors are using CDARS®?
CDARS® Deposit Rate Report. We can help you identify which CDARS® network members are operating in your market and what rates they are offering. This study provides the data you need to effectively price against your competition in light of this new service.
Want to know which competitors in your market are already members of the CDARS® network?
Thinking about joining CDARS®?
CDARS® allows member institutions to attract new customers and additional deposits from existing customers by offering access to multi-million dollar FDIC insurance coverage. CDARS® is the perfect solution for many of your depositors - non-profits, public funds, businesses, advisors (including trustees, CPAs, financial planners and lawyers), individuals, and socially-motivated investors. Instead of spreading their savings around several institutions for FDIC insurance coverage, your depositors deal with only one institution - YOU!
What is CDARS®?
CDARS was started in 2003 by Promontory Interfinancial Network. It allowed over 2,250 financial institutions to allocate large depositors’ funds ($110,000 or more) to members of the network to capitalize on FDIC insurance and eliminate any risk of uninsured funds.
CDARS can help your institution (or your competition) to:
- Attract New Depositors – With this service, depositors can centralize their funds with one institution and still take advantage of full FDIC insurance coverage.
- Retain Customers – Existing customers may relocate their accounts to your institution and, with CDARS®, enjoy full FDIC insurance coverage.
- Remain Competitive – By understanding competitors’ product lines (both competitors with and without CDARS®) you can effectively position your product offerings to maximize your margins.
Whether you are a member or not, you need to know what your competition is doing with CDARS®
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